New Report Highlights Importance of Parking to Airport Operations

Airport parking
facilities contribute between $2 and $118 million in gross revenues
annually to an airport, with a typical large hub airport generating
$55 million per year

FREDERICKSBURG, VIRGINIA (May 8, 2012) - Parking is a key
component of business operations at airports, generating between $2
and $118 million in gross revenues annually, with a large hub
airport generating $55 million per year, according to a newly
released report of a study conducted by the Airports Council
International-North America (ACI-NA), LeighFisher, and the
International Parking Institute (IPI).

The 2012 ACI-NA/IPI Parking Survey
included 53 U.S. airports in every Federal Aviation Administration
(FAA) region except Alaska and comprised more than 40 percent of
large- and medium-hub airports. Two Canadian airports also
participated. The study is based on 2010 data on parking revenues
and transactions, parking space inventory, payment methods,
management structure, and other aspects of airport parking
operations.

Among the findings:

Airport parking facilities contribute between $2 and $118
million in gross revenues annually to an airport, with a typical
large hub airport generating $55 million per year.

Of total 2010 non-aeronautical revenues of about $7 billion,
$2.9 billion or 41.6 percent was comprised of parking and ground
transportation revenues, according to FAA data presented in the
report.

Most airports provide more than 4,000 public parking spaces and
many provide more than 10,000 parking spaces for their customers.
The median inventory of spaces for large, medium, and small hubs is
17,000, 7,400 and 4,600 respectively.

Airports provide 2.0 to 4.9 spaces per 1,000 originating
passengers.

More than 30 percent of large-hub airports offer reserved
parking, but less than 10 percent of medium- and small-hub airports
do.

More than 40 percent of large-hub airports offer valet parking,
but less than 10 percent of small-hub airports do.

Parking structures at large- and medium-hub airports are most
commonly used for short-term and higher priced long-term
parking.

Average parking revenues per transaction were $49.35 for valet,
$12.57 for short-term parking, $29.62 for long-term, and $31.73 for
economy.

More than 50 percent of large- and medium-hub airports use
parking management contractors, while many of the small-hub
airports' parking facilities are self-operated.

Large-hub airports have higher parking operating costs per
passenger and per transaction than smaller hub airports.

More than 50 percent of parking revenue is collected by
cashiers and more than 60 percent of customers use credit
cards.

Most large- and medium-hub airports have cell phone lots.

Almost all airports provide security measures in both public
and employee parking areas, including random patrols, vehicular
patrols, cameras, and closed circuit TV (CCTV).

"This study demonstrates that parking is a significant component
of the operations of airports of all sizes," explains Shawn Conrad,
CAE, executive director of IPI, and a member of the study advisory
committee. Conrad added that to enhance customer service,
streamline the process of finding and paying for parking, and
improve sustainability, a growing number of airports are investing
in the advanced technologies that have transformed the parking
industry over the past few years.